by Wolf Richter
Wolf Street
For them, asset bubbles just aren’t helpful. On the contrary.
Gallup’s weekly survey has been trying to determine to what extent American consumers would get hit by the Brexit vote and the financial volatility that came with it: the two-day dive, the central-bank agitations, the massive dip-buying, the big rally since. Throughout, the survey found that Brexit bypassed Americans. But something else hit them, and economic confidence has been falling despite the market highs. Gloomy comes to mind.